The Board of Zenith Bank Plc has announced the appointment of Godwin Emefiele as Managing Director/Chief Executive Officer designate of the Zenith Bank. The appointment, which is subject to Central Bank of Nigeria (CBN) confirmation, takes effect from August 1, 2010.

Godwin Emefiele is a pioneer staff of the Zenith Bank and has been instrumental in developing Zenith Bank into a world-class institution. He holds a BSc and an MBA in Finance from the University of Nigeria, Nsukka and is an alumnus of Stanford University, Harvard, and Wharton Graduate Schools of Business. Before commencing his banking career over 23 years ago, he taught Finance, Bank Management, and Insurance at the University of Nigeria and University of Port Harcourt.

Emefiele joined Zenith Bank over 19 years ago and was appointed Deputy Managing Director in 2001. Given his pivotal role in the bank’s growth, Zenith Bank has benefited from his in-depth knowledge of finance and banking.

Godwin Emefiele will be taking over from Jim Ovia, Co-Founder and current Managing Director/CEO of Zenith Bank.

The Bank’s strong focus on corporate governance and global best practices is attributable to the joint collaboration of the six Executive Directors that comprise the Executive Committee. With an average Zenith Bank tenure of seventeen years, the Committee will no doubt continue to support the new GMD/CEO in growing the bank from strength to strength. The Committee has been the driving force behind the success of Zenith Bank governed by the collaborative approach that has built Zenith Bank into Nigeria’s second largest bank by market capitalization (N360 billion, $2.4 billion).

Stakeholders will continue to reap rewards as the Bank continues to roll-out its superior customer service model via a leading technology platform from its highly talented pool of employees. Zenith Bank is therefore confident that a seamless transition will ensue with enduring continuity anchoring the handover process.

Emefiele’s strong leadership skills will no doubt be a significant advantage as he sets in motion the combined vision for the Zenith Bank Group. The Board, with the new appointment, rests assured that shareholder value will continue to be the primary factor driving strategic thinking. Zenith Bank continues to rely on the strength of the Board, management, and all staff to sustain superior performance.

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Source(s): Proshare News